Wednesday, 1 August 2007

Board assessment

I've just finished doing a board assessment for a small fund management organisation.

I can't say anything about it, other than to note that I think my client found it useful, particularly in raising their self-awareness about what was going on.

It also seems to be part of a growing trend. SHRM's HR Magazine runs an article in its July edition, Sizing Up Board Members, and notes that although only 15% of companies conducted individual board member reviews in 2006, the trend if poised to skyrocket. The article also notes the benefits of using outside experts to add objectivity and defuse the awkwardness of peer reviews. It includes the following comment from Caroline Nahas at Korn/Ferry:

"When you embark on this for the first time, it's helpful to have a third party. The person can provide insight into best practices because he has been exposed to a number of different boards. He can provide advice for building a framework for the process."

Any more takers?